New Delhi, March 19 -- The United Forum of Bank Unions (UFBU) expresses its serious concern and strong objection to the directive issued by the Department of Financial Services (DFS), Ministry of Finance, on Wednesday, advising public sector banks to pay Performance Linked Incentive (PLI) to eligible officers from Scale IV to Scale VIII, and to Deputy Managing Directors in SBI, under the Department's revised PLI scheme issued vide letter dated 19.11.2024 and the respective bank's Board-approved policy.

The directive is "premature and inappropriate" since the matter of PLI remains under active discussion in conciliation proceedings before the Office of the Chief Labour Commissioner (Central). The most recent conciliation meeting was held ...